Plaza Centers N.V. Disposal (1718T)
March 24 2016 - 5:50AM
UK Regulatory
TIDMPLAZ
RNS Number : 1718T
Plaza Centers N.V.
24 March 2016
24 March 2016
Plaza Centers N.V.
PLAZA CENTERS COMPLETES SALE OF SLATINA SITE IN ROMANIA
Plaza Centers N.V. ("Plaza" or the "Company"), a leading
emerging markets property developer, announces that it has
completed the sale of its 23,880 sqm site in Slatina, Romania, to a
third party developer for EUR0.66 million, consistent with the
asset's last reported book value.
The disposal is in line with the Company's ongoing strategy to
deleverage the business, dispose of non-core trading assets and
focus on its core yielding assets across the portfolio. In line
with the Company's stated restructuring plan, 75% of the cash
proceeds will be distributed to the Company's bondholders by the
end of June this year as an early repayment.
Ends
For further details, please contact:
Plaza
Roy Linden, CFO and acting CEO +36 1 462 7222
FTI Consulting
Dido Laurimore / Claire Turvey
/ Tom Gough +44 20 3727 1000
Notes to Editors
Plaza Centers N.V. (www.plazacenters.com) is a leading emerging
markets developer of shopping and entertainment centres with
operations in Central and Eastern Europe and India. It focuses on
constructing new centres and, where there is significant
redevelopment potential, redeveloping existing centres in both
capital cities and important regional centres. The Company is
listed on the Main Board of the London Stock Exchange, the Warsaw
Stock Exchange and, as of 27 November 2014, the Tel Aviv Stock
Exchange (LSE:"PLAZ"; WSE: "PLZ/PLAZACNTR"; TASE: "PLAZ"). Plaza
Centers N.V. is an indirect subsidiary of Elbit Imaging Ltd.
("EI"), an Israeli public company whose shares are traded on both
the Tel Aviv Stock Exchange in Israel and the NASDAQ Global Market
in the United States. It has been active in real estate development
in emerging markets for over 20 years.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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